#PropertyValue #Investing #Campbelltown #LandValue #RealEstate
Hey everyone! š
I stumbled upon this property at 22 Tyler Street, Campbelltown and I’m pretty intrigued! The asking price is now listed at $1.1 million, but the property itself is valued at about $950k with an impressive land value of $1.34 million. That’s quite a difference, right? š¤
Given that itās zoned R4 in Campbelltown, Iām wondering if it still represents good value at this price point. Here are some thoughts I have:
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Land Value vs Property Value: It’s not uncommon for the land to be worth significantly more than the building itself. š This can create opportunities for potential investors, especially in areas with high demand.
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R4 Zoning: This zoning allows for higher density development, which could enhance the propertyās future value. š But does that mean the current price is justified, or could it be overvalued?
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Market Trends: Campbelltown has been on the radar for many investors lately. š However, itās crucial to consider current market conditions and future growth projections.
- Potential Risks: If the market softens, properties might take longer to appreciate, making it essential to weigh your options carefully. ā ļø
I believe a solid approach would be to look into recent sales of similar properties in the area. Perhaps connecting with a local real estate agent could shed some light on the actual market sentiment.
āØ Discussion Time! āØ
Have any of you explored properties with a similar price discrepancy between land and structure? What are your thoughts on investing in such opportunities? Any tips or experiences to share? Letās chat! š¬
Looking forward to hearing your insights!
If I were to hazard a guess I’d say it’s worth significantly less because of the irregular shape. You’re probably not going to be able to do as much as you’d like on that land for it to be valued at what they’re claiming.
There’s also the potential for easements and various covenants to have been placed on the land that aren’t taken into account by what I’m assuming to be a calculation by an algorithm won’t factor in either.
Sorry dude, unless youāre willing to outbid the developers lining up for this one. No way thatās going for $950k, too much money to be made there. Thatās definitely going to become a low/medium rise apartment block with the majority of units at the wide end of the block facing away from the two apartments on the sides.
Nice site. Is there one for Victoria?
Iād say Aland would already have their eye on it š¤£